Foundation: Students will learn how to calculate probabilities of combined and mutually exclusive events. Calculate theoretical and experimental probabilities. Use tree diagrams to calculate independent and conditional probabilities. Use Venn diagrams and set notation.
probability
dependent
independent
conditional
tree diagrams
sample space
outcomes
theoretical
relative frequency
fairness
experimental
Auditor, Surveyor, Actuary, Accountant, Mathematician, Statistician, Financial Analyst, Economist Data Analyst, Banker, Tradesmen, Agriculture, Engineer.
Probability provides information about the likelihood that something will happen. Meteorologists, for instance, use weather patterns to predict the probability of rain. In epidemiology, probability theory is used to understand the relationship between exposures and the risk of health effects.
Probability is widely used in business analysis and economics. The ability to predict and influence the future behaviour of customers and business.
The probability is used to measure the chance or likelihood of an event to occur, a hypothesis being correct, or a scientific prediction being true. In biology, it is used in predicting the outcome of a genetic cross or of a random experiment.
